Absolutely. Both ATR-5 and Bollinger Bandwidth are at multimonth lows for SPY, XLI and other broad US indexes. When the Bollybands are pinched, and the daily range is at the lowest end of it's own range, that's a recipe for dramatic Big Move-alert type market action. Also many NR-7 bars recently, in such indexes. There certainly is enuf in upcoming central bank and referendum events to provoke strong directional responses.
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failed double top. here's 100% mm. this bull shall have legs.
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Daily SPY BB width is around 1.4. It hasn't been that low since September 5th, 2012. That was just before a HUGE rally. We had a supermassive white candle to bust out of that. Price would shortly rocket to a high on September 14th, 2012 that would not be broken until January 2013.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23